Replies to post #22193 on Koil Energy Solutions Inc. (KLNG)

[rigmedic]

Rigs run continously - 24/ 7/ 365. The backbone of the whole "big picture" in drilling and workover is the day rate. You can see on rigzone examples of this and they vary by region.

Now of that operation is what is known as the "service sectors" like DPDW. These also include your wire line, mwd, directional drill, cementers etc. These are jobs that are preformed outside the drilling contractor's (rig operator) realm of expertice due to the specialized training.

The different phazes of the "hole" can be encountered at any time day or night. The same goes for the breakdowns of core equipment as well. All of the service and support companies run pretty much the same as the rigs.

Sorry for being so wordy but in a way its a symphony of events and specializations that all come together to make it happen. The offshore setting is a lot more complicated due to the environment those rigs are in.

Im going to guess that they have an "on call" crew that rotates coverage. Gulf of Mexico is typicly 14 on and 14 off. Im DPDW's case - they probably go out with the equipment and stay until the job is complete - whether it be an instal or repair and then head back to town - get some down time and then have "shop days" if nothing is pending.

I too would be curious. I would actually at this point be interested myself in touring them myself - id like to take my investment here to a new level.

[RichieRich49]

With the day rates the offshore drillers now have to pay for a rig the activity is almost constant. When one group is done doing their thing, like wireline, then the cementers will follow them whether it is 2pm or 2am. Just the nature of the business. The majors spend a heap of money searching for oil and the sooner they know if they have hit the mother lode the better. The work that DPDW specializes in is just a small but necessary piece of the puzzle, but IMO they are in the fastest growing segment of the oil industry, DEEP WATER. There are huge oil reserves hundreds of miles offshore under thousands of feet of water and soil. There is a race on to get to it.

The majors want to tap into vast oil reservoirs off american soil and stick it to the Arabs and Chavez. Alaska, Canadian oil sands, and deep offshore can probably supply all of our needs.

Go DPDW!